09/29/2022 | Press release | Distributed by Public on 09/29/2022 05:31
September 29, 2022
CEMEX, S.A.B. de C.V. ("CEMEX") announced today that it is part of a consortium that has received a grant from the European Commission to build a full-scale prototype of a floating offshore windmill with a concrete foundation. CEMEX will design and produce a unique high-performance and lightweight concrete for this unprecedented use in an optimized low-carbon structure for offshore windfarms.
CEMEX has agreed to provide its expertise in concrete technology, chemical admixtures, and special aggregates to design a specialty mix that is lightweight, resistant to ocean conditions, and lower carbon, facilitating a floating foundation with a reduced CO2 footprint. CEMEX will also support the consortium with technical assistance in the industrialization and supply chain of concrete for the project.
"We are excited to be part of this groundbreaking renewable energy pilot. Vertua concrete was created specifically to enable ambitious low-carbon projects such as this one," said Fernando A. González, CEO of CEMEX. "This project demonstrates our continued commitment to sustainability and innovation."
The consortium is led by ESTEYCO, a leading civil engineering and architecture consulting firm with over 50 years of global experience that developed a proprietary technology named Wind Hybrid Esteyco Evolution for Low-carbon solutions (WHEEL). One element of this technology replaces traditional steel used in floating platforms with lightweight, lower-carbon Vertua concrete.
The European Commission's climate targets for 2030 and 2050 rely on an ambitious strategy that that promotes the development of clean energy such as offshore windfarms in Europe's five sea basins. The WHEEL project seeks to enable this ambition.
The consortium includes leading companies such as 2-BENERGY, BOSKALIS, ROVER MARITIME, TENERIFE SHIPYARD, BRIDON-BEKAERT, VICINAY, PLOCAN, FIHAC, and EnBW. With the financing support of the European Commission, the consortium will work to install a 6MW 2-bladed downwind turbine on the WHEEL platform near the Canary Islands in Spain by 2025.
This project aligns with CEMEX's flagship Future in Action program, which seeks to achieve carbon neutrality by 2050. A key element of Future in Action is innovation and partnerships, participating in projects such as this with other companies working to mitigate climate change.
CEMEX (NYSE: CX) is a global construction materials company that is building a better future through sustainable products and solutions. CEMEX is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. CEMEX is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the use of new technologies. CEMEX offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience, enabled by digital technologies. For more information, please visit: cemex.com
This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. CEMEX intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect CEMEX's current expectations and projections about future events based on CEMEX's knowledge of present facts and circumstances and assumptions about future events, as well as CEMEX's current plans based on such facts and circumstances. These statements necessarily involve risks, uncertainties, and assumptions that could cause actual results to differ materially from CEMEX's expectations, including, among others, risks, uncertainties, and assumptions discussed in CEMEX's most recent annual report and detailed from time to time in CEMEX's other filings with the Securities and Exchange Commission, which factors are incorporated herein by reference, and the announced project to not be completed or the project not to produce the expected results. These factors may be revised or supplemented, but CEMEX is not under, and expressly disclaims, any obligation to update or correct this press release or any forward-looking statement contained herein, whether as a result of new information, future events or otherwise. Any or all of CEMEX's forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice. CEMEX is not responsible for the content of any third-party website or webpage referenced to or accessible through this press release.
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